How to weather the financial storm……
Cut your monthly costs by consolidating your accounts and debt into your home loan.
Use the equity in your property to consolidate your accounts.
Equity is the difference between a property’s market value less the outstanding bond amount.
For example:
You purchased a property and bonded it for R600 000. Since then you have paid in and and decreased the loan amount to approximately R450 000, whilst the market value has increased to R850 000.
This means you have equity of R400 000 in your property. This equity could be used to consolidate your accounts. Here’s how:
*The credit card installment is based on a revolving amount and is calculated at 10% of the outstanding amount.
Note: The above is an illustrative example. It is indicative only and uses approximate amounts.
The plan is designed specifically to help you recover from your current negative monthly cash flow to a more positive, stable and affordable position. And in doing so, solve your short term financial problems.
If there is anything we can do to help you – Don’t hesitate to give us a call TODAY !
If you are interested in seeing how consolidating your debt might work for you, there is a convenient online debt consolidation calculator at moneycentral.msdn.com.
Your debt ratio is an important number to be acquainted with. It tells you how your monthly debt payments compare to your monthly income. A high debt ratio might indicate that your monthly expenses are becoming unmanageable.
It also might discourage lenders from loaning you any more money. Use the Debt Evaluation calculator to determine whether your debt ratio is acceptable or too high.
Get a financial planning quote
Retirement may seem like it’s a lifetime away, but time has a funny way of moving really fast and before we know it, we are getting used to being at home with no obligation to be anywhere or do anything - blissful retirement after decades of hard work. However, your retirement will be much less blissful if you haven’t planned for it properly.
Read More ...Posted by Gary Walker on Monday, August 30, 2021 Views: 118
Often times, people do not include their tax refund in their budget as they are not sure how much it is going to be, or if they will be receiving a refund at all. Therefore, it’s important that you know how to use your tax refund wisely so that you can improve your overall financial portfolio rather than spending on things you don’t need.
Read More ...Posted by Gary Walker on Wednesday, July 28, 2021 Views: 171
Many of our baby boomer clients are now considering making donations to their children in the form of property or capital for a deposit on a property. Although this is noble, parents must take into account the rules of donations tax in such situations. In this article, we will look into donations tax and what it means for parents who are helping their children purchase property.
Read More ...Posted by Gary Walker on Thursday, July 15, 2021 Views: 332
